Scrap Sources: Construction

By CRU Principal Analyst Chris Asgill, from CRU’s Global Steel Trade Service China has banned steel scrap imports for the past year as part of its solid waste management policies that affect imports on a wide range of metal scrap and plastic waste. Recently, policymakers announced that a review on these policies will be sped […] The post CRU: Reclassifying Chinese Scrap Imports is Unlikely to Solve Market Tightness appeared first on Steel Market Update.

Wholesalers who sell HVAC and galvanized steel products to the construction sector have been pleasantly surprised by the resilience of demand in a market dealing with the COVID pandemic. They have been downright shocked by the spike in galvanized steel prices, which have jumped by about $7/cwt or $140 per ton in just the past […] The post Jump in Galvanized Price Surprises HARDI Wholesalers appeared first on Steel Market Update.

Wholesalers who sell HVAC and galvanized steel products to the construction sector have been pleasantly surprised by the resilience of demand in a market dealing with the COVID pandemic. They have been downright shocked by the spike in galvanized steel prices, which have jumped by about $7/cwt or $140 per ton in just the past […] The post Jump in Galvanized Price Surprises HARDI Wholesalers appeared first on Steel Market Update.

By CRU Prices Analyst Estelle Tran, from CRU’s Global Steel Trade Service A combination of increased seasonal demand, low service center inventories, unplanned outages, spike in scrap prices and government restrictions on Brazilian slab imports have added fuel to the usual seasonal uptick and turned it into a surge. After reaching a bottom in mid-August, […] The post CRU: Steel Buyers Fret About Longevity of Rally as Prices Skyrocket appeared first on Steel Market Update.

By CRU Senior Analyst Ryan McKinley, from CRU’s Steel Metallics Monitor The CRU metallics price indicator (CRUmpi) rose by 9.9 percent m/m in September to 225.5. Rising steel demand internationally in combination with tighter markets has driven relatively large price increases in every market we assess. Market sentiment is bullish for October and, barring any […] The post CRU: Upswing in Metallics Prices Accelerates appeared first on Steel Market Update.

The trough for steel volume, particularly for flat rolled steel, has passed and the second half looks promising, said Steel Dynamics CEO Mark Millett. Back orders are strong and order intake rates have picked up due to increasing demand as businesses resume operations following COVID-19 shutdowns. “It is still not possible to determine the full […] The post SDI: Demand Saw Trough in Q2, Improvement Ahead appeared first on Steel Market Update.

We are seeing further erosion in flat rolled steel pricing this week with the possible exception of Galvalume. Our sources are advising that hot rolled numbers are being offered in the low $400’s for tons. As capacity reopens at integrated mills, the possibility exists for HRC prices to breach the $400 per ton level for […] The post Final Thoughts appeared first on Steel Market Update.

As expected, ferrous scrap prices declined in July, adding downward pressure to already weak finished steel prices. Steel Market Update sources report that obsolete scrap traded down $10-20 per ton, while prime grades were lower by $40 across the country. Scrap supplies have increased at a greater rate than steel production, say the experts, which […] The post Scrap Trades Lower by $20-40 Per Ton in July appeared first on Steel Market Update.

The term “sustainability” is most often associated with environmentalism. True to the word, U.S. Steel’s 2019 Sustainability Report details the steelmaker’s mission to reduce its global greenhouse gas (GHG) emission intensity by 20 percent over the next decade. But what makes a company’s success “sustainable” over the long term goes far beyond environmental considerations, said […] The post U.S. Steel’s “Sustainability” Efforts Go Beyond the Environment appeared first on Steel Market Update.

By CRU Prices Analyst George Pearson, from CRU’s Steel Monitor In the U.S. Midwest market this week, sheet prices were somewhat mixed with HR coil near steady w/w while HDG coil fell by $19 /s.ton to $650 /s.ton and CR coil inched up by $4 /s.ton to $697 /s.ton. Our full HDG coil price, reflecting […] The post CRU: European Steel Prices are Yet to Hit the Bottom appeared first on Steel Market Update.